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This bank card allow you to make benefits to cover down your student education loans — but can it be a great deal?

Posted: Oct 15, 2019 9:38 a.m. ET

Sallie Mae has rolled down three brand new credit cards targeted at university students and present graduates

JacobPassy

Education loan giant Sallie Mae SLM, +0.44% has become providing three charge cards made for the collegiate set — including one which lets people utilize their cash-back rewards to repay student education loans.

But also for some, the smarter move could be to join up for other credit-building cards in the marketplace.

The 3 credit cards — Sallie Mae Ignite, Sallie Mae Accelerate and Sallie Mae evolve — are all structured likewise. Each possesses base rate for cash-back benefits, then an additional 25% bonus on benefits if users satisfy specific needs. Here’s exactly the way they digest:

• The Sallie Mae Accelerate card provides 1.25% right straight back on all acquisitions, but people could possibly get a supplementary 25% bonus regarding the benefits in the event that rewards are acclimatized to lower any federal or personal education loan. Continue reading